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Hector Sants to step down from FSA
Hector Sants is set to leave the FSA in the summer, after three years as chief executive.
Bolton China fund set to raise £630m
Fidelity plans an initial capital raising of £630m for Anthony Bolton’s China special situations investment trust.
Sir Malcolm Williamson appointed as Friends Provident chair
Williamson replaces Sir Mervyn Pedelty who died at the end of last month.
Barclays chief warns against excessive capital requirements
John Varley warns MPs against overly onerous capital requirements and regulation.
Tenet sees profits slashed
Tenet Group has seen its pre-tax profits slashed to £1m in the 12 months to September 30, 2009.
Ex-Thinc advisers launch IFA network
Former Thinc advisers launch IFA network with a flat fee and no contractual ties.
Bonuses hurting pension funds, says Myners
City minister will tell the NAPF to do more to crack down on bonus culture.
Dow drops as eurozone crisis continues
Dow, Nikkei down as speculators turn against Euro.
MPs slam Treasury secrecy over £18bn to cover BofE loans
Public accounts committee says Chancellor’s failure to notify Parliament was of “significant constitutional importance”.
Meteor confirms acquisition of NDF/DRL books
Meteor deal to acquire structured product providers NDF/DRL confirmed.
Euro directive could cause “systemic failure”, says BoE committee
Committee warns Alternative Investment Fund Management directive is unworkable in its present form.
Aviva pulls out of offshore bonds
Aviva Life International closes offshore bonds to new business following fall in demand from the UK market.
Opinion
Sants flees an uncertain future
Resignation of the FSA chief executive adds to the uncertainties facing the industry in the run-up to the election.
Gilt edgy
Claims that UK Government bonds are ’on a bed of nitroglycerine’ may be overblown but the market has certainly lost its lustre.
Advice is back in fashion
“With cheap SVRs under threat, a huge potential remortgage opportunity is starting to emerge. But to be fair, it has been there a while only many consumers have not realised it.”
MM Leader: Advisers need clear direction on wraps
The FSA appears to have woken up to the pivotal role that platforms will play in the retail distribution review and the clarity needed over their position.
Positive about protection
The next Government should be focused on reform to build on the great work being carried out by advisers.
Riding the wrap
Nic Cicutti says wraps may be the final battleground in which up-front commission is likely to play a major role.
